BUFFALO, N.Y. (June 23, 2005) -- NanoDynamics Inc., a leading nanotechnology company, announced that it will create 325 new jobs and invest $9.7 million to significantly expand its operations over the next five years in Buffalo, while retaining its current Buffalo workforce of 50 jobs.

“We are committed to creating high quality engineering, technical, and manufacturing jobs here in western New York and are very pleased that New York State understands and is willing to invest in emerging fields such as fuel cells and nanotechnology,” said Keith Blakely, CEO of NanoDynamics.

In consideration of its job commitment and investment in New York State, NanoDynamics is eligible for a $1.6 million Empire State Development capital grant. The company is also eligible to receive Empire Zone benefits.

“Buffalo Niagara’s regional development community recognizes NanoDynamics’ potential for future growth and impact on regional employment,” said Thomas A. Kucharski, CEO of Buffalo-Niagara Enterprise, the region’s economic development organization. “We responded with a team approach to help assure that NanoDynamics’ potential growth becomes a reality in the City of Buffalo.”

According to Small Times magazine, a leading business publication for nanotechnology related companies, New York State ranks second in the nation in nanotechnology research and fourth in overall development of nanotechnology. The magazine has also touted the leading nanotechnology research being conducted by New York’s world-class universities.